The high-flying attorney has submitted a request to to the Florida Bar committe to be disbarred. The committe approved the request, but a final decision must be made by the state Supreme Court.
Rothstein, 47, is suspected of bilking investors out of over $1 billion through a Ponzi scheme at his Rothstein Rosenfeldt Adler law firm, according to the FBI.
Rothstein has yet to be charged with a crime.
If the disbarrment is approved, Rothstein would have to quit his post on a panel that nominates appeal court judges. The position was given to him by good buddy Governor Charlie Crist in 2008.